Rep. Paul Ryan, R-Wisc., says he's hopeful Republicans and Democrats can compromise and pass a budget that at least represents a "down payment" on the national debt.
France's budget deficit is currently 3.7% of GDP. Recall that budget deficits exceeding 3% is over treaty limits. With Hollande at the Helm, any rational-thinking person understands the odds Hollande reduces the French budget deficit to zero by 2017 is roughly 0%.
Sequester cuts had barely gone into effect last week when the uber-liberal MoveOn.org started shrilly whining that conservative barbarians were destroying the country.
Rep. John Boehner says the goal is spending cuts, not a government shutdown. The House Speaker urged the Senate to pass a GOP measure that funds the government and eases some budget cuts, but leaves most.
"That's part of the job, they're working on the the budget," White House Press Secretary Jay Carney said today. He said that he expects the budget to be out by March even though the budget is already over a month late.
I am indebted to Amity Shlaes for gently correcting a joke of mine that dates back to July 8, 1972. On that date in the New York Times, I joshed that President Calvin Coolidge "probably spent more time napping than any president in the nation's history" and therefore was a successful president.
The other day a group of us were at a restaurant. All of a sudden there was a child stomping his feet and stating he was not going to do what he was told.
Hundreds of reasons have been adduced for the fall of Rome and the end of the Old Regime in 18th-century France. Reasons run from inflation and excessive spending to resource depletion and enemy invasion, as historians attempt to understand the sudden collapse of the Mycenaeans, the Aztecs and, apparently, the modern Greeks. In literature from Catullus to Edward Gibbon, wealth and leisure -- and who gets the most of both -- more often than poverty and exhaustion implode civilization.
Hoping to avoid crushing across-the-board spending cuts in under a month, President Barack Obama is proposing a short-term fix that involves targeted cuts and some higher taxes.
Republican Study Committee Chairman Rep. Steve Scalise, R-La., explains why the three-month deal passed Wednesday isn't a "band-aid," but a mandate for Congress to find long-term solutions.
"You don't have to be a deficit hawk to be disturbed by the growing gap between revenues and expenses," said Sen. Barack Obama during a Nov. 3, 2005, debate on the Senate floor.
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